That's less than the planned spending of $4.109 trillion. It will create an $779 billion budget deficit.

Revenue

Half of the FY 2018 revenue of $3.33 trillion comes from income taxes. They contribute $1.684 trillion. Payroll taxes are $1.171 trillion and include Social Security and Medicare taxes. Corporate taxes add $205 billion, contributing just 6%. Trump's tax plan cut the corporate contribution from 9% in FY 2017.

The remaining $271 billion is from excise taxes, estate taxes, interest on Federal Reserve deposits, and other miscellaneous sources. It's also lower than in FY 2016. The tax plan cut estate taxes. Also, the Federal Reserve is reducing its holdings of U.S. Treasurys.

Tax Freedom Day occurred on April 19, 2018. That's how long taxpayers work to pay for federal state, and local government revenue collection. It's more than they spend on food, clothing, and housing combined.

Spending

The budget office estimates the federal government will spend $4.109 trillion in FY 2018.

Government spending has three components: discretionary, mandatory and interest on the debt.

Discretionary: Congress appropriate funds each year for agencies covered by the discretionary budget.

But it's more than the $1.065 trillion allowed by sequestration. It includes $629 billion for defense. That's $80 billion more than the $549 billion allowed by sequestration. It also includes $576 billion for all other non-defense discretionary spending. That's $60 billion more than the sequestration limit of $516 billion.

The Congressional bill laid out top-line spending for two years, FY 2018 and FY 2019. It specified non-defense spending such as $80 billion for disaster relief, $20 billion for infrastructure, and $7 billion for Community Health Centers. It included an additional $6 billion for opioid treatment, $5.8 billion for Child Care block grants, and $4 billion to the Department of Veterans Affairs.

The spending bill only addressed one of the budget's components. It added funds to the base budget, which pays for standard department operations. Trump's budget kept it within the sequester's limit of $1.065 trillion for FY 2018.

That's above the sequestration limit of $516 billion. The bill included $80 billion in disaster relief and $6 billion to treat opioid addiction. It also included $7 billion to fund community health centers for two years. Tax provisions added $17 billion. The Congressional Budget Office found that the budget will add $320 billion to the debt over the next 10 years.

The chart below breaks down discretionary spending. The first column shows Trump's budget request. The second column shows OMB's estimate of FY 2018 spending. The third column shows what Congress enacted on September 19, 2018. The fourth column details what the House and Senate appropriation committees allocated. Those details are from the Omnibus Spending bill that President Trump signed on March 23, 2018.

It depends on how much Congress allocates for Emergency Funding. Most of that goes toward Overseas Contingency Operations, which pays for military operations. It also goes toward disaster relief. In 2017, Congress added $15 billion in emergency funds for Hurricane Harvey and $19.5 billion for Hurricane Irma.

In the Omnibus bill, it added $1 billion to address the opioid epidemic, for a total of $4 billion. Congress added $10.6 billion in infrastructure spending for a total of $21 billion. It also dedicates $1.6 trillion to build 90 miles of wall on the U.S. border with Mexico. Congress added $2.3 billion across departments to school safety issues.

Mandatory: The budget office estimates mandated benefits will cost $2.522 trillion. The mandatory budget is an estimate, not an appropriation. Congress can't change it as part of the normal budget process. Congress mandated the benefit payments when it passed the laws that created the programs. The most recent estimates are from the FY 2020 budget.

Social Security: $982 billion. Payroll taxes and the Social Security Trust Fund cover 100% of the cost.

Deficit

The FY 2018 deficit is projected at $779 billion once the Omnibus spending bill is included. It's almost double the $440 billion that Trump originally budgeted. One reason for the discrepancy is that revenue came in $100 billion less than expected. The other is that spending was $4.109 trillion, almost $100 billion more than budgeted.

The deficit was the fifth-highest U.S. deficit by year. It made Trump the third-highest deficit by president, following Obama and Bush. The CBO projects that the Congressional budget deal could boost the deficit to $1.2 trillion in FY 2019.